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BusINess » Business » This week’s BusINess newsletter out now!

This week’s BusINess newsletter out now!

Check out BusINess’ weekly newsletter online or click here to subscribe and get the latest NWI business news delivered weekly, straight to your inbox.

Region’s business leaders agree that crucial ingredient—jobs—still needed to power recovery; two electric cars, one made in Elkhart, make NWI debut; new advertising blitz aims to woo Illinois employers across the border. Hobart Borders store to close due to company’s bankruptcy, as Strack & Van Til puts its mark on acquired stores and unions organize to defeat proposed “right-to-work” law in Indianapolis. Applications for jobless benefits rise unexpectedly to 410,000; as NASDAQ nears record highs, some investors get nervous; and new Xbox 360 Juarez video game could be banned by Mexican authorities.—Pat Colander, Editor and Associate Publisher, BusINess magazine, serving Northwest Indiana & Chicagoland

BusINess story of the week

Region business leaders say jobs still missing jolt from recovery
Northwest Indiana business executives are seeing the signs of a sustained—yet slow—economic recovery in the region this year. The 22-member Times Board of Economists is split on how quickly challenges will be resolved to boost crucial industries. But they agree on one thing: Weak job creation is stalling the recovery. nwi.com/inbusiness

what’s news

Officials give preview of Volt, Think City cars
Two new electric vehicles made their 2011 NWI debut last week at the South Shore Clean Cities annual meeting. The Chevrolet Volt and the Elkhart-made Think City were parked outside Avalon Manor for guests to test-drive, as industry representatives touted the economic and environmental benefits of the vehicles. nwi.com/inbusiness

Indiana to Illinois businesses: We want you
Last week, the Northwest Indiana Forum launched a $250,000 advertising blitz that will attempt to squeeze some business opportunities out of Illinois’ recent hike in personal and corporate income taxes. Illinois employers soon will see billboards, print and cable ads asking them if they are “Feeling Squeezed by Taxes?” nwi.com/inbusiness

Hobart Borders will become casualty of company’s bankruptcy
Borders is closing about 200 of its 642 stores in the next few weeks, including its Hobart location, after filing for bankruptcy last Wednesday. The bookseller has struggled with crushing debt and sluggishness in adapting to a rapidly changing industry. nwi.com/inbusiness

Strack & Van Til puts its mark on acquired stores
By the end of March, Strack & Van Til officials hope to have completed extensive remodeling of the former Wilco County Market in Lowell to bring it in line with the company’s other stores. Strack & Van Til president and CEO said the company is investing more than $2 million in the store. nwi.com/inbusiness

this week on our website

Rail summit to highlight freight, high-speed, commuter
The United States’ top transportation official is coming to Chesterton to boost freight, passenger and high-speed rail as the solution to rebuilding the U.S. economy. nwi.com/inbusiness

Cool ranch: The one-story home makes a real estate comeback
Ranch-style houses, sometimes referred to as ramblers or ranchers, are considered a native architectural genre. Like many other housing styles, they fell out of favor when homeowners sought traditional, two-story homes and, later, McMansions. Now, they’re the comeback kid for multiple reasons. nwi.com/inbusiness

Clothing prices to rise 10 percent starting in spring
The era of falling clothing prices is ending. As the world economy recovers and demand for goods rises, a surge in labor and raw materials costs is squeezing retailers and manufacturers who have run out of ways to pare costs. nwi.com/inbusiness

beyond the region

INDIANAPOLIS—Labor groups blast proposed ‘right-to-work’ legislation
Union leaders called for unity among working people to mount an all-out attack on what they describe as legislation that hurts the middle class and takes away workers’ rights. Labor groups organized a large rally in Indianapolis on Monday to coincide with an Indiana House committee hearing. Steelworkers rallied inside the capitol last week. nwi.com

WASHINGTON—Unemployment benefit applications jump to 410,000
More people applied for unemployment benefits last week, one week after claims had fallen to the lowest level in nearly three years. The rise was much larger than economists had expected. nwi.com

upcoming and interesting

Should you be nervous as NASDAQ nears 10-year high?
The NASDAQ finished within 25 points of its highest level in a decade Friday, reminding investors of a time many would rather forget: The bursting of the dot-com bubble. nwi.com

Mexico state congress seeks ban of Juarez video game
An Xbox 360 shoot-’em-up video game set in the border town of Ciudad Juarez has angered local officials who are busy fighting all-too-real violence. Chihuahua state legislators said Sunday they have asked federal authorities to ban the game, “Call of Juarez: The Cartel,” which is based on drug cartel shootouts in Ciudad Juarez. nwi.com

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